I lost a lot of money early this year selling stocks. Let's say $50k. Now I have stocks soaring and I want to sell to use those gains to offset the losses.
Can I periodically sell my hot stocks and immediately buy them back to store those gains? I assume they'll keep going up.
Or is there any tax laws on these "reverse wash sales"? I know you can't sell losses and buy them back or it's a wash sale, but this is the opposite. I'm selling my gains to offset a loss.
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